Bausch Health Companies Inc.

12:35 PM EST - Bausch Health Companies Inc. : Has entered into a definitive agreement to acquire certain assets of Synergy Pharmaceuticals Inc. in a transaction valued at approximately $200 million plus certain assumed liabilities. Synergy filed a voluntary petition for reorganization under Chapter 11 of the U.S. Code with the U.S. Bankruptcy Court for the Southern District of New York earlier today. Under the terms of the agreement, and subject to Bankruptcy Court approval, Bausch Health will serve as the "stalking horse" bidder in a court-supervised auction and sale process, which Synergy will conduct pursuant to Section 363 of the Bankruptcy Code. Bausch Health Companies Inc.
shares T.BHC are trading up $2.09 at $33.00.